Prediction: What Might Greg Abel Do With a $350 Billion Cash Stockpile When Buffett Passes the Berkshire Torch

Warren Buffett surprised Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) shareholders earlier this month when he announced at Berkshire's annual meeting that he would be stepping down as CEO once the year ended. Buffett has run Berkshire for about six decades and made many shareholders rich in the process, with Berkshire's stock generating incredible returns.Now, the Oracle of Omaha will pass the baton to Berkshire's vice chair, Greg Abel. Buffett had previously announced that Abel would take over as CEO once he stepped down, although the timeline hadn't been clear until recently. With Berkshire's massive $350 billion hoard of cash, Abel is taking over Berkshire at a time when the company has a fortress balance sheet and a war chest ready for any opportunities that should arise. Here are some moves Abel might make once he officially becomes CEO.Many have speculated that Buffett was stockpiling cash in preparation to hand the reins over to his successor. Buffett has, of course, denied this. While Abel and the rest of the team at Berkshire are more than capable of carrying the torch, it's still a big change, given that Buffett is arguably the greatest investor of all time and that investors viewed his role as CEO -- even at the age of 94 -- as a port in the barrage of storms that have become common in the market since the COVID-19 pandemic in 2020.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool